WASHINGTON–Increasing rate deterioration across virtually all commercial business lines means "there are speed bumps ahead" for the sector, Standard & Poor's is forecasting. However, the rating service reported commercial carriers will remain profitable in 2008.
S&P noted that while 2007 is turning out to be a strong year for profits, prices deteriorated as the year wore on.
As a result, S&P said, its outlook is for 2008 to be "stable" for commercial insurers.
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